
Homebuyer Dream Program
LNB is a proud participant in the Homebuyer Dream Program, partnering with the Federal Home Loan Bank of New York to provide up to $220,000 of funds for local buyers. Each grant provides $9,500 in funds. Combined with LNB’s No Closing Cost Program, buyers can get into their first home with as little as a $1,000 contribution, with a conventional mortgage.
Program credit and underwriting guidelines apply. Income and other restrictions apply for the Homebuyer Dream Program. Lending programs subject to change without notice.
The 2022 Homebuyer Dream Program began accepting applications on March 21, 2022. County median income levels have been adjusted upward for the 2022 program. Details below.
LNB and the Federal Home Loan Bank of New York (FHLBNY) work together to provide grant assistance to qualified first-time home buyers. The Homebuyer Dream Program™ provides grants of up to $10,000 towards the purchase of a home in New York.
The FHLBNY returned to an allotment program this year. This means that lenders received a set amount of funding to access through the program. The program typically launches with replenished funding each spring.
For more information on the Homebuyer Dream Program, Eligibility requirements
- Must be first-time home buyers**
- Reside and purchase a home in New York
- Have a household income at or below 80% of area median income (i.e., in Monroe, Wayne, Ontario, Yates, Cayuga, Seneca & Onondaga counties, 1 or 2 person households, up to $69,680. In households of more than 3 people, the maximum income level is now $80,132 for all counties)
- Complete an accredited homeownership course
- Meet the income and credit requirements for the program
- Have the minimum equity contribution of $1,000 toward purchase of the home
- Remain in the home for five years or repay a portion of the grant funds back to FHLBNY
Important information:
- Up to $9,500 in grant funding is available to be applied to down payment and closing costs
- Up to $500 in grant funding is available to offset the cost of the homeownership course
- The Homebuyer Dream Program is a registered trademark of the Federal Home Loan Bank of New York. Additional program details are available on the Federal Home Loan Bank of New York website. Please work with your LNB Mortgage Loan Originator to discuss your specific situation.
**First-time homebuyer as defined by the U.S. Department of Housing and Urban Development ("HUD"), is an individual who meets any of the following criteria:
- An individual who has had no ownership in a principal residence during the 3-year period ending on the date of the purchase of the property. This includes a spouse (if meets the above test, they are considered first-time homebuyers).
- A single parent who has only owned a principal residence with a former spouse while married.
- Individual who is a displaced homemaker and has only owned a principal residence with a spouse.
- An individual who has only owned a principal residence not permanently affixed to a permanent foundation in accordance with applicable regulations.
- An individual who has only owned a property that was not in compliance with state, local or model building codes and could not be brought into compliance for less than the cost of constructing a permanent structure.
Check out the resources below to help you on your journey towards owning a home.
Worried about the down payment for a home? You might have enough saved already
Should I Buy Or Rent A Home?
Buying A Home? Keep Closing Costs In Mind
What is a Quality Mortgage?
Are You Saving For Your Future Needs?

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For three years in a row, LNB has been recognized by Freddie Mac for excellence in helping people in the communities we serve become homeowners. We provide many lending solutions and the guidance needed to help make the dream of homeownership a reality.
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